Cerberus Is Said to Be Pursuing HNA's $3 Billion Swissport Unit
Cerberus Capital Management is among parties holding talks to acquire a stake in Swissport Group as embattled Chinese conglomerate HNA Group Co. weighs options for the airport luggage handler, people with knowledge of the matter said.
HNA is working with advisers to explore possibilities for Swissport including the sale of a majority stake in the business, according to the people. Swissport could be valued at about $3 billion in a deal, the people said, asking not to be identified because the information is private.
Swissport has also attracted interest from other suitors, the people said. Singapore state investment company Temasek Holdings Pte has been studying a potential investment in Swissport as it considers deals with HNA that are complementary to its portfolio, Bloomberg News reported in April.